At Geekwire, Tom Alberg says George Gilder is right about the role entrepreneurs play in driving the economy.

Dan Mitchell testifies on the debt ceiling in front of the Joint Economic Committee.

Monetary Reform

Azizonomics shows the breakdown in the correlation between gold prices and The Federal Reserve’s balance sheet.

From Forbes.com, Ralph Benko writes as we approach The Federal Reserve’s 100th anniversary, a reform of The Fed gains currency.

The Chicago Fed published an article on forecasting inflation and the great recession.

Deutsche Bank Markets Research released a report entitled “Long-Term Asset Return Study- A Nominal Problem”, praised the real GDP growth under the classical gold standard:“Real GDP growth is possible without a corresponding growth in MV. Without monetary growth/innovation, any increases in real GDP would simply be offset in nominal terms by productivity-driven deflation–the “value” of money relative to goods would increase as technological advances increased the supply of goods whilst the money supply remained constant (i.e. money would become relatively more scarce in comparison to goods). Indeed this pattern of real GDP growth and price level deflation was common before the twentieth century, a period dominated by the hard metal currency system of the Classical Gold Standard.”